Domestic players such as VTB want to join in
Although the process of western players acquiring Russian investment banks has already begun – UBS, through its Brunswick acquisition, and Deutsche Bank through its UFG tie-up have been the trailblazers – the pace of activity is certain to pick up.
A done deal?
Ownership of two obvious candidates, Troika Dialog and Aton Capital, might well have changed hands by early 2007. JPMorgan is rumoured to have won the race to acquire a stake in Troika Dialog, the country’s oldest investment bank.
“I heard that it’s a done deal,” said the head of research at a Russian investment bank of the long-mooted tie-up as Euromoney went to press.
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